MPs to launch new investigation into excessive boardroom pay

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MPs will launch a wide-ranging review into executive pay tomorrow after prime minister Theresa May promised to get tough on the country's top paid bosses.

The Business, Innovation and Skills (BIS) Committee will unveil the terms of a corporate governance inquiry tomorrow, which will look at the issue of what to do about runaway executive pay following years of disquiet in the City.

The investigation will also look at ways to promote more diverse boardrooms and assess proposals to give employees a seat at the top table.

Prime minister May made corporate governance one of her first priorities among coming into office in July, as she mooted the idea of putting workers on boards and attacked "vested interests" across the UK corporate sector.